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's the ultimate game of chicken. by the way, a new plan that works in taxing bank assets and even grabbing some money from the church. how about that. meanwhile, back here at home once again i'm going to stop this nonsense about a new national internet sales tax. my pal grover norquist will help me declare war on it. this is a big government tax grab that we will debate. >> speaking of taxes, guess who is not paying them? more and more federal workers are tax cheats. why shouldn't tax cheats just be fired? it's that easy on the "kudlow report." and we begin right now. first up tonight, the cyprus crisis continues. riots are forming in the streets. cnn's own chief international correspondent michelle caruso-cabrera is with us tonight. >> cyprus is going to do something that's called "resolving a bank." like all tough things in life, we use euphemisms. tonight the head of the central bank has asked parliament to give him permission to give him new powers of resolution authority. what he will do with that resolution authority is he will take cyprus's most troubled bank, he's going to take the good
osborne unveiled the government's proposed tax and spending plans to members of the british house of commons. he told members 600,000 more jobs will be added this year according to forecasters. corporation tax will be cut to 20%, the lowest tax rate than any other economy in the world. in his one-hour speech, chancellor osborne announced measures aimed at assisting small business owners, first- time homebuyers, and british veterans. this is about an hour and 15 minutes. mr. deputy speaker, this is a budget for people who aspire to work hard and get on. it's a budget for people who realise there are no easy answers to problems built up over many years. just the painstaking work of putting right what went so badly wrong. and together with the british people we are, slowly but surely, fixing our country's economic problems. we've now cut the deficit not by a quarter, but by a third. we've helped business create not a million new jobs, but one and a quarter million new jobs. we've kept interest rates at record lows. but mr. deputy speaker, despite the progress we've made, th
>> we're back with the funds that will maximize your tax refunds. morgan, th is a real estate fund, a bunch of stock in real estate. >> this focuses on commercial real estate so retail, office space, apartment space. i like this because it has a low expense ratio and a decent yield. >> bill, real estate has been booming recently. right? >> you can get the same product in charles schwab for one third the price, it's a little like paying $11 a gallon for gas. >> you like gold and platinum. there is a fund that collects all of these precious metals. >> van guard precious metals buys miners. the reason i like it the nearly successful raid on bank kpas sits in cyprus made the world savers think about other ways to store wealth. >> cyprus. this is at a 12-month low. you are supposed to buy low. >> buy the miners themselves, don't go into this fund. i don't like the expenses. >> your fund is odyssey aggressive growth. why are you aggressive. >> they are basically a big play. look at these. up 15, 20%. really low expenses as well. great holdings in this fund. >> you like it? >> yeah. this
is back, and the $13 billion bailout in cypress. they want to pay for it by taxing people's bank accounts. dagen: the president will announce his no , nominee for s secretary. another looks at a man's record over at the justice department. connell: the cyber threats, a new report according to an isp, nigeria as being the worst for spam. dagen: the corporate tax burden in the country. who pays the most? those stories and much more coming up in hour on "markets now." ♪ connell: markets are going back to positive. dagen: who has a greater connection than anyone in the building. connell: good morning, nicole. dagen: good morning, yes, my mother and father were born in cypress, but i want to look here at the averages, a lot stemming from what we heard in cypress, them giving a vote to tax the depositors there, and that, in turn, could really pressure europe overall, that vote takes place tomorrow. the banks closed until thursday. the euro is at a four month low, and people are spooked. i mean, that's really what's occurring here, down 45 points for the dow jones industrials, so that's down
a blue-collar conservative project which has taxes are people who work hard, do the right thing and want to get on? stop spending billions of pounds we don't have on overseas aid where we saw -- helping with their cost of living -- [inaudible] >> first of all, can i thank the honorable frien thing for givine the opportunity to remind people that even before this budget in two weeks time there will be a tax cut for 24 million people in our country? [shouting] as we raise the amount of money you can earn before you pay tax come we will take an over too many people out the tax altogether. we have frozen the council tax. we have canceled fuel duty increase after fuel duty increase, and we are legislating -- and i can also tell him where not going to carry on with a proposal made by the previous energy secretary which was about 179 pounds on everybody's bill. we decided to scrap that. >> ed miliband. [shouting] >> trento want to ask the primers about the situation in cyprus. can the prime minister update the house what is being done to protect the british nationals including our armed forces
shoppers, beware. you may get slapped with a new internet tax being handed down from capitol hill. that story, just ahead. >>> and later, giving new meaning to the term zombie economy. >> they see you as killers. they're training to attack. >> i'll tell you what, next time you see phillip, you tell him i'm going to take his other eye. >> the creator of "the walking dead," robert kirkman, attributes part of his show's success to the financial crisis. kirkman will join me later to explain. you're watching the "closing bell" on cnbc, first in business, worldwide. [ male announcer ] this is a reason to look twice. the stunning lexus es. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i
and businesses and consumers do not want to hear, it's a new tax on the internet. even downloads from ituness, who thinks that is a good idea? not me, here is good news "the kudlow report" begins right now. president obama in israel for the first same in his presidency, securing the relations with the allie in the middle east, here is what he had to say when greeted by benjamin netanyahu. it's in our fundamental security interest to stand with israel. it makes us both stronger and more prosperous and makes the world a better place. >> so question is, what exactly is the president hoping to accomplish in israel. here now we republican former u.s. ambassador and dan senor the coauthor of start up nation. joining me here on set for the hour, ryan grim, huff post washington bureau chief, and tony frato, former white house deputy press secretary. welcome to one and all, if i may go to you first, ambassador, there's all this media chatter that i'm reading today that president obama the not know what he wants to do and he has no agenda. it's said that he was the first u.s. president to visit israel
their proposals on taxes. under their budget, the top rate is to be reduced from 39.6% to 25%. the a.m.t. will be repealed. the corporate tax rate will be cut from 35% to 25%. but you don't find one sill bell in the republican budget on how these tax cuts will be paid for. . they don't identify a single tax policy that will end. the republican budget would mean a huge tax cut for the very wealthy, several $100,000 a year and leave a nearly $6 trillion hole in the deficit that would lead to tax increases for middle-income families. that isn't balance. that is total imbalance. at the same time, republicans propose cutting $3.3 trillion from programs for people with low and moderate incomes, including hundreds of billions of dollars for food nutrition and medicaid programs. so i want to end by asking the republicans when they come and talk about their tax proposals to name a specific that they would address. it's not in the republican budget. name one, name two, name three. otherwise, it's worse than empty. the chair: the time of the gentleman has expired. the gentleman from wisconsin.
is trying to shoot down this tax on a medical device maker. >> the medical device packs is something that is a pretty bipartisan bill. you will not see a lot of bipartisanship there. dagen: brad, final word. do we really know what this will cost us as a nation and individuals? >> we look no further to the entitlements that the government had to perform before obamacare. medicare, renegade is going bust on its own. we created a whole new entitlement program where we could not even administer properly and provide the coverage to those already admitted. it is on a pathway to unsustainability unless something is done to change those programs. i have no confidence that obamacare will have any more success than the two programs i mentioned. dagen: thank you both. the well. connell: senators getting set for a marathon with back-to-back voting. they will be voting on amendments that protect the budgets. dagen: rich edson is live in washington, d.c. with more. rich: most of them are designed to get the other party to take difficult votes. the republican amendment drew more than 30 democrats i
in the mine. the amazing thing is that although the central banks have been taxing myself deposits, giving negative interest rates and by a depreciating currency, like 26% depreciation in last 10 years, the ecb would come out so openly. that is the shocking thing. and of course, people should be very worried about what happened in argentina. they froze deposits and withdrawals so that this could spread. as we look at the united states and europe and the way that the politicians are running the show, it'd heading for disaster. as simpson-bowles said, it is a cancer. there is a time when bank deposits will be threatened if we continue even if the united states and europe -- people go to banks today thinking that it will be okay to. neil: that is a good point. not that it would be imminent or a near-term threat. but the fear is, here is a vulnerable little country where this is looking like a real fear. what about greece? what about portugal? >> i mean, this is western country. the last i heard is that europe is part of the west. >> what is your fear? >> my fear is that if things go awry in
, a possible tax on bank deposits and austerity measures that could result in the loss of thousands of jobs. that has sparked a protest. welcome to a brand-new hour of america's news headquarters. >> jamie: good to see you. good morning, to all of you. it happens that time is running out fast in cypress. if they can't reach a deal, the european central bank will stop providing emergency funds to cypress after monday, triggering a collapse of the country's banks. greg? >> shannon: hey, jamie, eric. it is crunch time here in cyprus. the economic fate of the country could be decide in the next several hours. all of europe and the united states is watching. the action rate now is in brussels. officials are meeting with the top brass at the u.u., the european central bank. they are trying to figure out a bailout for the near bankrupt country. the terms are tough, including the bank levy, 20% on big depositors at the main bank, which has been very controversial. in addition to that, other demands on the bank system have people worried about their job, worried about their moan. we were out and abo
with mandatory spending or comprehensive tax refm. that is what it will take. neil: do you think that bernie marcus, the home depot cofounder, was telling me on fox news, the spenders are using a pr war, the strong stock market, improving economic numbers as jusjustification for more spend. >> i don't buy that, i don't think that the sck marke is as pro efficient -- prefish ent as people think, we don't need to been the budget, the way that the government calculates a balanced budget is a bad joke, we do have to do, we have to start treating the disease, deal with health care costs, deal socialnsurance programs. neil: they are not. they might -- but remind me,er dayhey don't, a new pore added to our -- a few more added to our debt. all unfunded. >> that is right, that is what we need. >> you local starkest terms. >> the full view, if we look at big number, over 70 trillio, if we end up doing -- >> how does that work? >> debt held by public, held by social security medicare trustee fund, and pensions unfunded, arrange of commitment contingency, and unfunded social security and medicare promis
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out and do these things they will talk about putting this tax on deposits, what happens from there? what's the fallout? imean that's a big deal? >> well, i think capital controls at this point is inevitable because even if, even if there is a deal, unless you have capital controls, there is going to be a massive is run on these banks the minute they open. but again, i mean we need to look at what is the alternative here? if you don't do the levy over 100,000 euros, you know, you are going to have a risk of the collapsing of all of these banks, in which case, not only the insured but also the uninsured depositers lose much more because the reality is in cyprus, the level of insured depositers is 180% of gdp which means that unless there is a deal, both insured and uninsured deposits basically evaporate. melissa: okay. lance, let's talk about what are the other options. >> sure. melissa: you talk why has the e.u. not gotten involved? is it their best interest to get involved? because if they don't, doesn't it mean russia sinks their hooks even further into this island nation? they wo
! >>> >>> the tiny island of cyprus sets off big scare with plans to set off the rule of law. they want to tax all bank depositors large and small to pay for a bailout. this has never happened before.e are in trouble. if nothing happens, optimism runs the show. cyprus is the money ground for dirty money from russia and other rogue nations. the government of cyprus is scared to death of insulting vladimir putin. we'll have an expert who will play this scenario out for us. "the kudlow report" begins right now. >>> first up, let's get the latest on the cyprus report. michelle joins us by phone. >> good evening. the details are changing, but the one core fact important to investors is true. for the first time ever in the european crisis, portions of bank accounts will be seized in order to pay for a bailout. cyprus agreed to this to get a 10 billion euro loan to bail out their banks. what is still unclear and controversial is whether insured deposits will also be seized. original plan was if you had an account in cyprus with less than 100,000 euros, would you have to pay a tax even though it falls bel
on public servants, wasted money spent in the financial crisis and the only thing is higher taxes. >> there is an oversight of spending tax dollars, we have known that for a while. with the story with school superintendent, national average 162,000 to be a school superintendent but some of these guys are running half a dozen schools, less than a million students, some of them are making 200,000 or more. it is amazing there is no transparency, little oversight for the public servants will scream about the private sector. look to your own backyard. charles: the same ideology that argues about corporate salaries uses that as an excuse to bump up their own salaries. digging a were using to bump up your salaries? connell: thank you, charles, appreciate it. dagen: i am taken mcdonnell. connell: i am connell mcshane. thank you for joining us and this is what is keeping washington up at night. preventing a budget deal from happening. dagen: a big day for bernanke and company. is it time for the central bank to pull back on the bond buying? connell: and the taiwan factory making the recall
of bankustomers are blowing their talk, with talk of a 10% tax on deposit the money, has a lot of angry customers storming the atm machines but the government has closed banks to avid a bank run, a keeping them close until they sort this out, but the tax is till coming. for cyprus it is about the cost of staying in the euro club, never mind how average i citizes there are getting club. but this is about taxing assets there. something with which we should all be very familiar here. no uncle sam has not hacked into our bank accounts -- yet, but he made a b-line for our other assets like next time we try to sell our home, and obamacare wants 3.8% of the profit for medicare tax. juss like it is tacking medical devices for what it deems exception atrogen -- generous healthy insurance policy. so what is such a big leap going from hitting you up for dollars off fur devices, and hitting you up for dollars off your deposits. none, i tell you cyprus is not isolated. i am telling you, cyprus is a test case, it is starting, it was not only liberal the world over watching. now big brother, everywhere salivati
at as nation's governments weighs a new bank account tax. there would be a 3% tax for deposits under $100 thousand euros, and a 10% tax and 15% tax for amounts larger than 500,000 euros, country central bank declaring a holiday until thursday, when they vote on the plan, this is sparking investor fears at home, joining me now lance roberts, host of street talk live, and xena. partner and cfa, welcome all, great to have you here, lance, i'll start with you, i have to assume some wealthy individuals are having questions about safety of their money, have you gotten any calls, are you expecting any? >> i'm not expecting any but i would not be surprised to see people talk more about this in next few days it is very late tonight anyway it looks like they will preserve the under $100 thousand mark and go after larger deposits, but the question, here in u.s., could it happen here? probably not. but the question is, ha hasn't t already happen with standpoint feds suppressing interest rates, that is the rate less than inflation, negative interest rate it has already happened here. gerri: let's go t
to pick up. do not get too excited when all the obamacare taxes kick in next year. i would go into any of the markets like miami. the whole purchase to rent phenomenon, all the investors are jumping in and buying rental properties. the holster is wearing off on that. it did not turn out as good as they thought. look at those cities. vegas, phoenix, anything -- really, the fed induces this massive wild swing in bubbles. they are not sustainable. just watch out. dagen: anthony, it was great to see you. thanks a lot. connell: great to see you, as always. how about starbucks. this is a headline today. helps to explore different farming techniques. a disease called coffee rust. it has been hidden industry pretty hard. dagen: you can see through the pants. lulu lemon pulled some of its yoga pants off store shelves. the company claims the mistake impacts 17%. it was made by a supplier. lulu lemon offering full refunds to customers. they are trying to figure out what exactly happened. it is hard to make up a story this good. shares are down more than 5% today. connell: it is like christmas for
a bank at tax plan. now the risks of bank runs and bank collapses mount in this tiny country. we are about to bring you live report from cyprus. but cyprus may have an ace in the hole. it's called russia. the parliament is going hat in hand to russia to save its financial system in return for ownership of its natural gas resources. so do i have this right? the russian money-laundering thugs can save cyprus and maybe europe and maybe the global financial markets as well? it's a very scary thought. however, here at home, american business leaders speaking in one voice in a new campaign to push pro growth corporate tax reform. i like it. the polls show it. there's too much talk about root canal, dent and budge cutting. we need growth, we need optimism. we need "the kudlow report." it begins right now. >>> first up this evening, let's go live to cnbc chief international correspondent, michelle caruso cabrera who joins us from cyprus with the details. good evening, michelle. >> reporter: good evening, larry. it's been a day of high drama here in cyprus. just a few hours ago, the parli
taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of
under $100,000 euros taxed 3% while savers over half a million will see the levy kred to 10%. those above the threshold pay 9.9% tax. the total revenue raised is expected to hold just shy of 6 billion euros. the rescue package is slated to begin today around 1500 cet. in the meantime, we're getting comment out of russia. seen as perhaps the targeted party here, i should say, with regard to some of the deposit taxes that are being pushed through on cipriot banks. for example, putin via spokesman has apparently called the levy, if approved, unfair, unprofessional and dangerous. european markets are in the red across the board as we've seen today. the ftse 100 down almost 1% and the xetra dax better than 1%. the ibex 35 is down 2%, roughly the same amount for the ftse mib. we can tell you that spanish and italian bonds have risen both on banks and for some of the periphery, showing pressure, as well. here is a look at some european banks. a mix there. on the left, you can see spain. banco santander down almost 4% some some cases. unicredit down almost 5%. moving to the french banks, cr
-20 last night to repeal part of obamacare. a tax on medical devices from hip replacements to mri machines. >> this is about innovation about jobs. >> other taxes are in place, including a $100 billion tax on insurance premiums. that will cause the average person $100 a year. part of the financing for what the president sees as his signature policy achievement. >> after a historic vote, healthcare reform is not an unmet promise. law of the land. >> some of those who know the business next are skeptical. >> a great misconception about the obamacare is just because you have health insurance you will get adequate healthcare. nothing could be further from the truth. >> obamacare will pay less to providers and increase number of insured by 30 million. >> patients don't get the services rendered because the tok torsent to provide them at the below market cost. >> obamacare expand the demand for care. it doesn't do anything about supply. >> they agree on one thing, the success is whether the young and healthy people sign up for insurance in large numbers. >> the government has to enroll people to
kind of tax or sees sure of deposits. if approved it could give everyone in the country a bit of relief. basically insuring what is being proposed in cyprus really can not happen here. joining me with details is the cosponsor of the resolution, republican congressman tom coal from oklahoma. congressman, thanks for coming on the show. >> thank you. melissa: do we really need a resolution to protect us from this? is there a danger this would happen, do you think? >> people in cyprus probably thought the same thing a couple days before it happened. do we really need to worry about this? i think we ought to make sure. and look, i don't think it would happen, i will be honest with you. i think, most of our regulators understand how counter productive this is, how it will destroy confidence. it will give people not to put money in safe places like banks. but we ought to reassure people and ought to send an unmistakeable sign to our own bureaucracy, that congress wouldn't tolerate something like that. melissa: has there been talk doing something like this or could you see it happening? i have
from cyprus and concern about deposits being taxed obviously set off worries on wall street abroad and here at home obviously. sandra: opposite end of the spectrum, jcpenney, the retailers, jcpenney a huge rally today, nicole? >> a couple of reasons. isi group talking about the fact that they might turn into a reit-like entity. oppenheimer talking postively about jcpenney. david: apple, apple, even though the market came down i think apple stayed up about 12 bucks. why are they doing so well on the eve the samsung announcement? >> that is pretty amazing. once the news was out about samsung it took away some uncertainty. apple bucked the trend. sandra: best buy seeing a nice top. that was an up stock on a down day. >> best buy, the last quarter was a great one. they got positive analyst comments as well. jpmorgan initiated coverage with overweight rating. [closing bell rings] david: the bells are ringing. we're not at absolutely postively lowest point of the markets but very close to it as we see a down market. dow jones industrials down 61 points on the beginning of this trading we
by new york state. first i was like so what? but lot of state offer tax inaccepttive to intyce business to the state and i'm for lower taxes. then i broke down the numbers. new york state is offering tax credit, not simply tax deductions. estimated at or near 24 a year. i can say the taxpayers of new york would not only not collect any taxes from the "tonight show" they will toll out steps of millions in subsidiaries to nbc. we ask, was nbc, fallon and the crew of rich fat cats need that money? >> bob: are you asking me that question? >> eric: yes. >> bob: sorry. let me -- >> eric: here is the crux of the question. >> bob: i got it. i got it. >> eric: give them free money. >> eric: i don't understand that the states that entice people to production like michigan, is it that they lose money? or don't make money? this is what happens. we give you $24 million but the economic activity that you bring when you come to the city, make up for it that way. >> dana: i think this screams need for tax reform. this is so warped that for cuomo can't get his arms around the fracking issue. issuing the
on the failed idea that giving another round of tax cuts will somehow triple down and lift up all the other boats. we know that has not worked. peter: the senate starts its votes on its budget tomorrow. i will start here before i talk about easter bunnies and march madness. connell: we do not want that, peter. we never want you to get into trouble. dagen: that does not get you into trouble with us. we go as far as talking about audio parts. right now we want to talk about funding the government. 68% of americans say it is a problem. connell: monica crowley is here with us today, as is leo kelly. interesting because of what we have seen in the stock market. today, with the market pulling back with all-time highs, it is not really about the stuff peter is reporting about. >> cyprus, his little country that no one really was paying attention to a couple weeks ago certainly has no whole world turned upside down. what the market has really come to expect from washington is delayed until the last minute, but come up with a resolution. the threat goes away each time they do this. dagen: speaking o
dollars in unpaid taxes and employees skipped out. and help may be on the way. and house committee jason chaffetz, a member of that committee is here. >> thank you, greta. >> greta: what's on the way? we pay the salaries of the federal employees, but looks like a pass when it comes to taxes? >> look, if you don't pay your federal taxes, you should be fired. that's what the bill does. if you're trying to make whole on this and going through restitution, great, you're fine, but we have 107,000 current federal employees on the know, being paid by the taxpayers that have serious delinquent tax debt and we have to fire those people if they refuse to pay their taxes. >> greta: when you're talking about what kinds of numbers. 3.5 billion is the total. and your bill omits members of the military. >> military, we have a different situation, they deal with hardship, some of retirees. but you have 688 people working on capitol hill in the house and senate and you have 40 people working-- >> and now their names. >> we know how many, we know how many. because there's a tax lien there's public record
frantically looking to rejigger the tax. i stress, not eliminating the tax. maybe focus on the rich. take 20% of their dough. hard to say. this much is not. it is going to happen. because the government needs the dough. if they still want to get european union dough. it gets weird and complicated. desperate to stay in the euro club. does this ring a bell? it should. no one is taxing the bank holdings, thanks to obamacare, they are going after the other assets. 3.7% on investment sales larger than 100,000 grand. the next time you try to sell your house, trust me. you will hit the roof. think about that. tax not on your income, earned or unearned but your assets. what you have, what you own. your tangible assets. home here, bank account there. is there difference? no. no difference between american government taxing you for medical devices and what it deems as a medical insurance plan. taxing you not on what you make but what you have. the stuff you attain through life of work no, matter when you work or how much you made when you work. stuff you got now. to government, it sees that y
.ing a move that has -- considering a move with major implications all over the world. officials want to tax a percentage of every individual savings account and they would reach in the account and take the money. as you can imagine, the reaction has been fierce. senior foreign affairs correspondent greg greg palkot has the story tonight from london. >> the mediterranean island nation of cyprus is small but it rocks the global markets, including the u.s. because it's going to do the unthinkable. fund a near bankrupt government. at least the solution we went for is for sure not the one we would have liked. but under the circumstances, it was the least painful one. >> exchange for a bail-out from the european union and imf, cyprus wants a so-called tax of around 10% on account of $130,000 and over and 7% for the rest. exposure to invest in the greece and lax banking regulations are to blame. attracting foreign investors including russians. brussels and germany are seen by cypriates as the villain. >> we don't want germany here. we don't want them to help them at all. >> all of this is causing
on this rich guys did not dodge the tax. now a government has broken precedence, by going after what is in their bank account, how long do you think it will be before governments start sniffing around your bank account. frankly, i believe it's not long. think this country, when first federal income tax was just to blender efforts of world war i but it stuck around. or europe. expanded. what started out as a 4% tax for millionaires is now north of 20%, and en snaring, well, everyone. that is what concerns me about this cyprus tax. what the poor saps will discover when the banks reopen in cyprus, run. can't take their money and the government is watching and limiting, and i am kind of worrying. what is going on in this island nation, is a tsunami. bank on it. literally. to rich edison, in cyprus to this nervous night before, hey, rich. >> good evening neil, you have to imagine, folks without access to their banks account will have some tomorrow 8:30 in the morning. for more than a week these folks had closed banks today there was a bit of a lull, in fact that banks were closed not beca
about cyprus and what they'r they are doing, thet off this decision to tax or confiscate the bank accounts, but what happens now? how will they please those at the imf and the european union? big questions remain and that is why you see the red arrows. but just squeezing out a gain for now. lauren: investors also applied to the safety of u.s. treasuries today rallied for a third day pushing the yield on the 10-year note to a two-week low. david: without the fed announced what they are going to announce on wednesday. oil closing below $93 per barrel, this is the first fall for crude in four sessions, dropping 1.7% settling at $92.16 per barrel. lauren: and you have to look at the retailer's underperforming the market today especially the key names. american eagle, abercrombie and fitch, all falling greater than 3%. david: the stocks are much the same. rejecting the confiscation of bank accounts but there are things going on here in america that are not as friendly. the chief research officer joining us with a disturbing new report, one that shows the united states is falling behind
to the bottom of that? are we about to see a national internet tax, a tax on everything you buy online? it is on the hill today, and you need to see this report before your next click. and no more carrots. remember those thing. american tourist. you couldn't fit that in a carry-on if you tried. a major carrier experimenting with no more carry-s on. leave the luggage behind. you goat sit down first. it's a big change in the way america waits in line and flies away. sue is off today. simon is at the new york stock exchange. simon? >> and tyler, i'm slightly concerned for your european whack a mole you seem to have a very brutal hammer. let's move on and check where we are with the markets. after so many golden weeks of gains, it's been a little bit rough, but about 90 minutes ago we went positive. the dow went positive for the week. we were up over 90 points just shy of that, as you can see. let's have a look at where we are on the s&p right now. 1555 as we head into the weekend. we'll check on golds and brented a we work our way through the program. let's see what the mood of bob pisani
of dollars of emergency crash and creditors impose onetime tax of 3% on all bank deposits under $130,000. >> going deep here. >> the tax could be closer to 10% on people who have over $640,000 in the bank. that's according to the "the wall street journal" this morning. people stood in long lines over the weekend to withdraw money before the policy went into effect and now russian president vladimir putin is calling the move, quote, unfair, unprofessional and dangerous. russian citizens make up the majority of billions of euros held in cypress bank. this is important. >> cypress. >> who cares about cyprus? >> come on, cyprus. are you telling me if somebody sneezes in cyprus we get a cold than on the nasdaq? >> tell us why. >> we have a cold on the nasdaq. the nasdaq is going down today. not too many people care about cyprus but a way the europeans have screwed up the bailout by getting the people to pay a part of the cost. you could have a run on the bank and europeans say why do i have my money in this bank? might be a tax on me next. it shows that europe is still a mess, that they h
a bank deposit tax. sterling is trading lower as they get ready to set out this year's budget expecting to redirect spending to revive growth and deutsche bank lowers its earnings due to mortgage related lawsuits and/ regulator investigations. >>> plenty still happening as we follow the cyprus story for you and explore just what it means for investors across europe and around the world because the market reaction has been relatively muted if you consider the extraordinary nature of these events. cyprus' president is meeting with party leaders this morning after lawmakers last night unanimously rejected a proposed tax on bank deposits. this was crucial to unlocking a $10 billion bailout. the house speaker said the decision had been made for all europeans. >> this decision of the house of the republic of cyprus is protecting all the people of the countries of the european union and this is the main message i want to send tonight to all european citizens. >> now meanwhile cyprus' finance minister is appealing to moscow for help fresh from his talks with his counterpart this morning. discus
national debt, and even a bib llically based call r a flat tax. that's what i love. is he the conservative that can save the gop? here is the aforementioned dr. ben carson. director of the pediatric division at john hopkins university. and with us this hour, cnbc contributors keith boykin. as always, dr. carson, great to see you. i'm reading one of many articles that you're retiring in 100 days. i wonder if you would share future plans, especially public service. >> i have a lot of things on my agenda. i've got ten international trips. a multitude of speaking engagements around this country. we're working very hard with the college fund. we're in all 50 states. we're putting in reading rooms all around the country. particular particularly targeting title one schools. >> as you know, senator carl levin is retiring. any interest in that open senate seat? >> people keep trying to put me into politics. i don't believe i fit the mold. i don't believe in political correctness, and i certainly don't believe with getting into bed with special interest groups. i just don't believe i'd fit. >> how a
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